Donations now tax deductible

The Collie Art Gallery has just received notification of its endorsement by the Australian Taxation Office as a Deductible Gift Recipient, allowing donors to claim income tax deductions on eligible gifts.

Cash donations to the Gallery are income tax deductible, provided your donation or ‘gift’ is over $2. Donations must be freely given and cannot be made with conditions attached which could provide you with any benefits of a material nature. A deduction for a gift cannot add to or create a tax loss.

Donations may also take the form of property valued at more than $5000, such as shares and securities or a work of art, which meet the Gallery’s acquisition policy.

Since 1 July 1999, the tax treatment of donations and gifts of property has improved. Specifically, tax deductions for donations of cash and property have been enhanced and the impact of capital gains tax has been diminished.

In addition, the Cultural Gifts Program now encourages gifts of significant cultural items to public art galleries, museums and libraries by offering donors a tax deduction for the market value of their gifts.

You may claim an income tax deduction equivalent to the market value of the works of art and can spread your tax deduction over five tax years.

The Gallery welcomes these measures and the increased benefits they deliver for donors of property or works of art.

Tax deductions can be claimed for gifts received from 24 February 2015.


The information provided is of a general nature only and does not consider your personal objective, financial situation or particular needs. The information on this page should not be relied upon as a substitute for personal financial or professional advice. We strongly recommend that you seek independent advice before acting on information described on this page.